It is often said that it “takes money to make money,” and certainly it is a lot easier to make money once you already have a lot. If you have a million dollars, you can buy an apartment building and make thousands each month in rents, or buy a mutual fund and average a hundred thousand dollars or so in capital gains and dividends each year. With a little planning, one can easily pull in an average of $100,000-$150,000 a year in income from a million dollar nest egg.
The trouble is, most people don’t have a million dollars from which to start. Fortunately, everyone could have a million dollars by the time they retire if they consistently work and invest throughout their lifetime. The secret is to start early and to continue to invest on a regular basis. Putting away say 10-15% of your income throughout your twenties throughout…
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